Quarterly report pursuant to Section 13 or 15(d)

Intangible assets

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Intangible assets
 9 Months Ended
Mar. 31, 2017
Goodwill and Intangible Assets Disclosure [Abstract]  
Intangible assets

Note 5. Intangible assets

 

The Company’s intangible assets consisted of the following:

 

    Estimated 
useful life		   March 31, 2017     June 30, 2016  
Patents   15 years   $ 126,246     $ 74,562  
Less: Accumulated amortization         (9,952 )     (4,889 )
Subtotal         116,294       69,673  
Trademarks   —     1,560       1,560  
Intangible assets, net       $ 117,854     $ 71,233  

 

The Company recorded amortization expense of $1,951 and $800 for the three months ended March 31, 2017 and 2016, respectively.

 

The Company recorded amortization expense of $5,063 and $2,212 for the nine months ended March 31, 2017 and 2016 respectively.

 

The following table outlines estimated future annual amortization expense for the next five years and thereafter:

 

March 31,        
2018   $ 8,212  
2019     8,212  
2020     8,212  
2021     8,212  
2022     8,212  
Thereafter     75,234  
    $ 116,294